The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1887-12-17
vaoM THE PRESIDENTS MES
SAGE.
A Treasury Full Of Money, While the
People nre Heavily faxed.

People are Heavily faxed.
The following extracts from the
Presidents Message to Congress must
heartily commend themselves to every
reader as wise suggestions from the
Executive OF the nation
You are confrented at the TIRES
hold of your Legislative duties with II
condition of the national finances
which imperativeiy demands immedi-
nj. and careful consideration. The
amount of money annually received
through the operation OF the present
laws from the industries and necessi-
ties of the people largely exceeds the
sum necessary 10 meet the expenses OF
the government. When we consider
that the theory of our institutions
guarantees to every citizen the full en-
dowment OF the fruits of his industry
and enterprise, with only such deduc-
ton as may he his share towards the
careful AN economical naintainance
of the government which protects him,
il is PLAIN that the exactlun of more
than this is indeienslble and culpable
betrayal of fairness and justice. This
wrong inflicted upon thUsc who bear
the burden OF national taxation, like
other wrongs, nultiplies brood of
evil conseq quences. The public treas
ury, which should only exist as 4 con.
dult conveying the peoples tribute Ia
its legitimate object ot exit, becomes
u boarding place Tor money needlessly
Withdrawn from trade and the peo-
pies use, thus gripping our national
energies, preventing our cnuniry's de-
velopmeut and inviting schemes of
public plumber. This condition Of
our public treasury is not altogether
novel, and it has mere than ones OF
late been submitted To the peoples
representative in Congress, who alone
can supply remedy, aud more than
ever presagng financial convulsion
and widespread disaster. 1t will not
do to neglect tins situation because its
dangers are not palpably imminent
aud apparent. They exist none the
less certainly, and the unforeseen and
unexpected occasion when they will he
precipltated upon US.
"0n the Both day of June, 1888, the
excess Of revenue over public expen-
ditures, after complying with the an
nual requirement of the Sinking Fund
Act, was $17,S50. .735 81, during the
year ended June 80, 1885, such excess
amounted to $40, 9,405,545 30 and dur
ing the year ended June 30, 1887, it
reached the sum of $52, $40 54
The annual contributions TO the Sink
Ing Fund during the three years above
specified amounted in the aggregate
to $l3S,06s,s20 40 and deductions
from the surplus as stated were made
by calling in for that purpose the out
standing three per cent. bonds of the
Government. During the six months
prior to June 30, 1897, the surplus
revenue had grown SO large by re-
peated accumulations that it was fear
ed the withdrawal of this great sum OF
money needed by the people, would
80 effect the business of the country
that the sum of $70,964, 100 of such
surplus was applied to the payment of
the principal and interest of the three
per cent. bonds still outstanding and
which were payable at the option of
the Government. The precarious con-
dition of financial affairs among the
people still needing relief Immediately
after the 80th day of June, 1887, the
remainder of the three per cent. bonds
then outstanding, amounting with
principal aud interest to the sum OF
$76,S77 800 were called in aud applied
to the Sinking Fund contribution for
the current fiscal year. Notwithstand-
ing these operations of tho Treasury